Hydrofarm Holdings Group, Inc. (NASDAQ:HYFM) Short Interest Down 7.8% in June

Hydrofarm Holdings Group, Inc. (NASDAQ:HYFM) was the target of a large decline in short interest in the month of June. As of June 30th, there was short interest totalling 1,060,000 shares, a decline of 7.8% from the June 15th total of 1,150,000 shares. Based on an average trading volume of 152,000 shares, the short-interest ratio is currently 7.0 days.

Hydrofarm Holdings Group Stock Down 3.5 %

Shares of NASDAQ HYFM opened at $0.67 on Thursday. Hydrofarm Holdings Group has a 52-week low of $0.65 and a 52-week high of $1.64. The business’s 50 day moving average is $0.76 and its two-hundred day moving average is $0.87. The firm has a market cap of $30.88 million, a price-to-earnings ratio of -0.50 and a beta of 1.81. The company has a quick ratio of 1.31, a current ratio of 3.15 and a debt-to-equity ratio of 0.45.

Hydrofarm Holdings Group (NASDAQ:HYFM) last posted its quarterly earnings data on Tuesday, May 14th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.01. Hydrofarm Holdings Group had a negative return on equity of 16.55% and a negative net margin of 27.71%. The firm had revenue of $54.17 million for the quarter, compared to the consensus estimate of $49.00 million. During the same quarter in the previous year, the business earned ($0.34) EPS. Research analysts predict that Hydrofarm Holdings Group will post -1.04 EPS for the current year.

Institutional Trading of Hydrofarm Holdings Group

Institutional investors and hedge funds have recently bought and sold shares of the business. AXS Investments LLC grew its holdings in shares of Hydrofarm Holdings Group by 29.6% in the fourth quarter. AXS Investments LLC now owns 544,375 shares of the company’s stock valued at $499,000 after purchasing an additional 124,412 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Hydrofarm Holdings Group by 158.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 85,123 shares of the company’s stock valued at $92,000 after buying an additional 52,194 shares during the period. Vanguard Group Inc. boosted its position in Hydrofarm Holdings Group by 18.2% in the 1st quarter. Vanguard Group Inc. now owns 1,876,913 shares of the company’s stock valued at $2,027,000 after buying an additional 288,701 shares during the period. Finally, Tidal Investments LLC acquired a new position in shares of Hydrofarm Holdings Group in the first quarter worth $1,118,000. 26.61% of the stock is currently owned by hedge funds and other institutional investors.

Hydrofarm Holdings Group Company Profile

Hydrofarm Holdings Group, Inc, together with its subsidiaries, manufactures and distributes controlled environment agriculture (CEA) equipment and supplies in the United States and Canada. The company provides agricultural lighting devices, indoor climate control equipment, and nutrients, as well as plant additives used to grow, farm, and cultivate cannabis, flowers, fruits, plants, vegetables, grains, and herbs in controlled environment.